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EUR/GBP continues to consolidate - Commerzbank

Karen Jones, analyst at Commerzbank, points out that the EUR/GBP cross has continued to consolidate just below the 55 day ma, currently at .8642 and is somewhat stuck at this zone.

Key Quotes

“A close above here would allow for a test of the recent high at .8723 and .8826 (200 day ma). It continues to hold the .8471 recent low and we suspect might be trying to base near term.”

“Currently though we remain unable to rule out the risk of a slide to the 200 week ma at .8411 (although this is less favoured).”

“The market is expected to struggle on rallies to the 200 day ma at .8830, and only above here allows for a move to the October .8941 high, which is expected to contain the topside.”

US: Muted inflation is not just because of distortions – ABN AMRO

Bill Diviney, senior economist at ABN AMRO, points out that the US core inflation surprised to the downside in March at 0.1% mom, below their and cons
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GBP/JPY Technical Analysis: Climbs to fresh weekly tops, further beyond 146.00 mark amid weaker Yen

• The cross built on the overnight bullish break through a short-term descending trend-channel and continued gaining positive traction for the third
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